Copper Scrap Market is forecast to reach $72.7 billion by 2025, after growing at a CAGR of 4.1% during 2020-2025. The copper and copper alloy industry’s economy depends on any excess materials being commercially recycled. Product waste resulting from production processes is reused and exchanged for recycling to keep the finished product’s cost down. Approximately 40% of all production is produced from recycled metal on average. For a few items, the ratio approaches 90%. The report covers Copper Scrap market size by application, Copper Scrap market share by top 5 companies and also the market share by start-ups during the forecast period.
Copper is a commodity that is 100% recyclable. The recycling rate of copper is higher than that of any other metal engineering, according to the Copper Development Association. In the U.S., almost as much copper is recycled as mined each year, the rising electronic industries in U.S, have increased the growth of copper scrap.
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By Application – Segment Analysis
Copper has a range of attributes that make it useful in today’s so many applications. In addition to being flexible, durable, strong and corrosion-resistant, the metal has been found to be a highly efficient conductor of heat and electricity. Metal has been a key to many of man’s technological advances, with electricity and telegraphic communications being the most important. The growing demand of copper in electricity wires, have increased the opportunity for the growth of copper scrap globally, which leads the market growth.
Geography – Segment Analysis
APAC is dominating the copper scrap market, China is driving the global market for copper scrap, accounting for over two-fifths of global demand in 2019. The massive construction and electrical and electronic sectors of the country consume huge volumes of copper in electrical wire, pipe, personal and business electronics, and telecommunications equipment production. Strong domestic motor vehicle production, and industrial machinery, further fuel China’s copper scrap market. India is expected global copper scrap market’s fastest growth by 2019. Robust rises in the construction activity of domestic buildings, driven in part by rising urban population and government investment, would support local copper scrap profits.
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Drivers – Copper Scrap Market
Growing copper mine production in Latin America have increased the productivity of copper scrap globally.
Global copper mine demand is expected to increase to over 22 million tons in 2019 by 3.7 percent per year. Rapid annual increases are predicted for countries like Canada, Mexico, and Zambia, where the ongoing development of copper projects will drive gains. Peru is projected to post robust gains in copper mine output in Central and South America — the leading regional supplier of copper ore and concentrate. Copper ore and concentrate production in Chile, which accounted for almost 30% of global output in 2014, will rise at a more modest pace, limited by the aging mines of the country. The growing production of copper and the increasing usage of copper across various applications specifically in electronic industry is driving the market growth.
Product portfolios range, acquisitions and R&D activities are key strategies adopted by players in the Copper Scrap market. In 2019, the market of Copper Scrap has been consolidated by the top five players accounting for xx% of the share. Copper Scrap Market top 10 companies are Aurubis Commercial Metals (CMC), Enerpat Group, European Metal Recycling (EMR), HKS Metals, Jansen Recycling Group, Kuusakoski Mallin Companies, Olin Brass, OmniSource Corporation, Reukema, and Trademark Metals Recycling LLC (TMR), among others.
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